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ARE YOU KIDDING?? Fed Investigation CAN'T FIND Single Homeowner Wrongfully Foreclosed Upon

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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:35 PM
Original message
ARE YOU KIDDING?? Fed Investigation CAN'T FIND Single Homeowner Wrongfully Foreclosed Upon


:wtf: :smoke: :smoke: :smoke:

" WASHINGTON, D.C. -- A months-long investigation into abusive mortgage practices by the Federal Reserve found no wrongful foreclosures, members of the Fed's Consumer Advisory Council said Thursday. :crazy: :shrug:


During a public meeting attended by Fed chairman Ben Bernanke and other regulators, consumer advocates on the panel criticized federal bank regulators for narrowly defining what constitutes a "wrongful foreclosure." At least one member of the panel voiced concerns that the public would not take the Fed's findings of improper practices seriously, since the wide-ranging review did not find a single homeowner who was wrongfully foreclosed upon. :rofl:


The Fed's findings seem to support claims from the banking industry, which has admitted to sloppy practices but has maintained that the homeowners whose homes have been repossessed were substantially behind on their payments. The Fed's report has not been released to the public.


All 50 state attorneys general joined together last fall to probe banks' foreclosure practices after several companies halted home repossessions when improper paperwork practices -- like the so-called "robo-signing" scandal -- came to light. The law enforcement officers have said they've found banks violated numerous state laws. State and federal officials are considering a large-scale settlement with banks and mortgage servicers that could include penalties totaling up to $30 billion and requirements to modify more distressed mortgages. The Fed's report will only further the disagreements between bank regulators, whose top priority is ensuring the safety and soundness of the banking system, and law enforcement officials, who are concerned with reportedly widespread violations of state and federal bankruptcy and consumer protection laws during foreclosures.


Kirsten Keefe, a member of the Fed consumer panel and an attorney at the Empire Justice Center in Albany, New York, said the Fed's report defined "wrongful foreclosures" as repossessions of borrowers' homes who were not significantly behind on their payments. Based on that definition -- the homeowners were already in default -- the Fed found the foreclosures to be justified, members said.


cont'

http://www.huffingtonpost.com/2011/03/10/fed-reports-fi...



.
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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:37 PM
Response to Original message
1. i'll bet they didn't look hard. like my 12 year old who can't find her mp3 player...
she surveys the area her head can turn through without having to move her body and declares she cannot find it. even though it was right in front of her the whole time.
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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:49 PM
Response to Reply #1
8. But I'm quite sure in the end your twelve year old will eventually find her mp3 player if she wants
to listen to her music. These crooks know where to look and where they can find the so called ' wrongfully foreclosed homes ' but instead, decided to invent some NEW foreclosure definitions in order to give the banksters criminal cover.
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gkhouston Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:38 PM
Response to Original message
2. Um, didn't they foreclose on someone who didn't have a *mortgage*?
That sounds a bit "wrong" to me...
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Aerows Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:04 PM
Response to Reply #2
17. That has happened MORE than once
I'm assuming they were looking at the bottom of the ocean, or perhaps on the tropical beaches of Antarctica.
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:39 PM
Response to Original message
3. It's like voting, Its all about who gets to COUNT them.
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savannah43 Donating Member (198 posts) Send PM | Profile | Ignore Thu Mar-10-11 01:40 PM
Response to Original message
4. Fox and hen house time.
Who wrote the rules here? Does this mean that DOJ is totally corrupt, too? I'm kidding. I know the answer.
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felix_numinous Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:43 PM
Response to Original message
5. All depends on how you define 'wrongly'
--wrongly for who? Hey words can mean anything in this Orweillian nightmare.
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percussivemadness Donating Member (733 posts) Send PM | Profile | Ignore Thu Mar-10-11 01:45 PM
Response to Original message
6. Absolute BS that is disproven by Missouri Court Rulings
Edited on Thu Mar-10-11 01:48 PM by percussivemadness
There is an attorney in Missouri, Dale Wiley, http://www.foreclosurelawllc.com who has not only stopped a number of foreclosures (which can be viewed on his fascist book page), but has also succeeded in getting at least one overturned. So what the FED is saying is completely disproven in Missouri. He has provided a number of resources here: http://foreclosurelawllc.com/articles/2011/01/12/fraudu...
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sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:53 PM
Response to Reply #6
12. Lots of other court rulings also
which completely refute this ridiculous report.

In a way I am glad that is so ridiculous, it demonstrates easily how they lie. And will be laughed at for what it is, a desperate attempt to save the criminals, yet again.
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tallahasseedem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:46 PM
Response to Original message
7. Oh please...
all they have to do is read some articles that were posted on Huffington Post some time ago. Ugh.
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Sherman A1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:50 PM
Response to Original message
9. Excuse me for a moment...
:banghead:
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sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:50 PM
Response to Original message
10. Wow, they missed my girlfriend, as a matter of fact I KNOW
they did because she lives, or did until her home was stolen by Wells Fargo, not far from where they supposedly did this 'study'.

Her attorney will be interested in this report.

This reminds me of the 'free elections' in Iraq and other Dictatorships where the 'leader' always somehow gets 99% of the vote. At least they pretend a few people don't like him.

I hope this is met with the derision it deserves.

They are getting desperate now.

I guess they also missed the cases where judges have already ruled that there were illegal foreclosures and returned the homes to their original owners, in some cases, free of any further payments.

Hilarious. We really do live under a corrupt regime.

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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:02 PM
Response to Reply #10
15. Yup! They ' conveniently ' missed your girlfriend's criminal foreclosure.
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Lost in Space Donating Member (13 posts) Send PM | Profile | Ignore Thu Mar-10-11 08:03 PM
Response to Reply #10
31. Stolen?
What was the status of your girlfriend's payment history?

It would be stealing if she was current and had no missed or late payments, and her house was foreclosed.

If she missed payments, or repeatedly paid late and triggered a payment-in-full demand (which would have been in the loan contract), not so much.

Remember, no one really owns their home. Between lenders holding the mortgage, and government collecting taxes and having the power of eminent domain, it just ain't so.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 01:51 PM
Response to Original message
11. People were told they could only get help from HAMP if they went into foreclosure
Honey pot, anyone?
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Pacifist Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:00 PM
Response to Original message
13. I've self-censored at least four responses to this. None of them polite in the slightest.
I don't know what to say that isn't truly obscene.
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sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:15 PM
Response to Reply #13
20. Feel free, I just can't think of enough words that would be
appropriate since I don't usually swear and don't have a collection of suitable words, but if you do, I would love to learn them. Lately there have been so many occasions where it would have been helpful to be able to find the proper language to describe what is happening to this country.
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Pacifist Patriot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:19 PM
Response to Reply #20
21. That's just it.
I don't usually swear. If I'm finding it hard to express myself, it's bad.
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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:02 PM
Response to Original message
14. Watch the Academy Award winning film.... INSIDE JOB
then you will understand
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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:04 PM
Response to Reply #14
16. Already watched it when it first came out.
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Wisconsin_2_Nation Donating Member (85 posts) Send PM | Profile | Ignore Thu Mar-10-11 02:05 PM
Response to Original message
18. look at our federal reserve
They are morons- seriously watch this with Alan Grayson....this is scary.....

9 Trillion Missing Federal Reserve can't explain

http://www.youtube.com/watch?v=GYNVNhB-m0o




There is something terribly wrong with this country. The Repubs have installed these morons they pulled out of Cheney's basement, and they are running our country...into the ground I might add.
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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:12 PM
Response to Reply #18
19. They keep doing it because nobody ever gets criminally charged or goes to jail. THEIR position
is that THEY are above the Law. Complying with the written laws of the land were for common, tax-paying folks only.


:sarcasm:
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Wisconsin_2_Nation Donating Member (85 posts) Send PM | Profile | Ignore Thu Mar-10-11 02:26 PM
Response to Reply #19
25. They give out 9 Trillion with no record of who has it or any accountablity.
Our whole budget, the talks of deficit etc...everything is just a farce. I can't believe it has gotten this bad.
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Segami Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:32 PM
Response to Reply #25
26. Quite frankly, they're just warming us up by shaving away some of the shock edge
in preparation of their next magician's illusion.
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truebrit71 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:21 PM
Response to Original message
22. You have GOT to be kidding me? Holy shit...I knew they were bent, but I never thought they'd...
...be this fucking obvious...
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Shandris Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:23 PM
Response to Original message
23. Well DUH! That's because there are none!
Homeowners, that is. After being foreclosed on, they were no longer homeowners. No wonder the government couldn't find any! :silly:

Now if the article said "Fed Investigation can't find single person or family wrongly foreclosed on", THEN we'd have a story! :P
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sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:25 PM
Response to Reply #23
24. Lol, so that will be their explanation!
It's as good as any, I suppose, because they ARE Going to have to try to explain this idiocy. Otoh, if no one has been prosecuted, I guess it would be hard to find any criminals.

We do protect our elite, criminal class here in the U.S. No one can take that away from us, it's a bi-partisan thing.
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Shandris Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:41 PM
Response to Reply #24
29. Tell me you couldn't imagine GHWB smirking into the camera and saying...
..."Them documents must be where the WMD were!" to the sound of canned applause.

It's almost that farcical, the way these things work out, and even moreso in how many people believe it. "Oh, see, there were no wrongful home foreclosures, it was them poor folk, why they done wrecked the WHOLE WORLD'S ECONOMY!" Bet they never knew they had that kind of power. :eyes:
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hatrack Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:40 PM
Response to Original message
27. Sounds like they didn't leave a single stone turned . . .
:eyes:
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Nordmadr Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Mar-10-11 02:41 PM
Response to Original message
28. How come they get fined, and we go to jail? N/T
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Chris_Texas Donating Member (707 posts) Send PM | Profile | Ignore Thu Mar-10-11 02:42 PM
Response to Original message
30. Can't find any BP oil in the gulf either,
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